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Assembly Bill A5595

2011-2012 Legislative Session

Prohibits the use of an insured's credit data in determining the premium to be charged

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2011-A5595 (ACTIVE) - Details

Law Section:
Insurance Law
Laws Affected:
Amd ยง2402, Ins L
Versions Introduced in 2009-2010 Legislative Session:
A5740

2011-A5595 (ACTIVE) - Summary

Provides that the term "defined violation" shall mean the utilization by an insurer of credit information relating to a potential insured in determining the premium to be charged such insured.

2011-A5595 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5595

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 23, 2011
                               ___________

Introduced  by  M. of A. HAYES, CROUCH, FINCH, KOLB, RAIA -- Multi-Spon-
  sored by -- M. of A.  BURLING, CERETTO, GIGLIO, McDONOUGH,  MONTESANO,
  PALMESANO, REILICH, SAYWARD -- read once and referred to the Committee
  on Insurance

AN ACT to amend the insurance law, in relation to prohibiting the use of
  credit information in determining premiums

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 2402 of the insurance law is amended  by  adding  a
new subsection (b-1) to read as follows:
  (B-1) "DEFINED VIOLATION" SHALL ALSO MEAN THE UTILIZATION BY AN INSUR-
ER OF A POTENTIAL INSURED'S CREDIT INFORMATION IN DETERMINING THE AMOUNT
OF PREMIUM TO BE CHARGED SUCH INSURED.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law, and shall apply to all applications for insurance  or
renewals of insurance made on and after such effective date.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08729-01-1

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